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Adobe Systems (NASDAQ:ADBE) Insider Holdings L.P. Valueact sold 700,000 shares of Adobe Systems stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $72.17, for a total transaction of $50,519,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Adobe Systems (NASDAQ:ADBE) traded down 3.67% on Thursday, hitting $69.2499. The stock had a trading volume of 3,822,933 shares. Adobe Systems has a 52 week low of $44.70 and a 52 week high of $74.69. The stock’s 50-day moving average is $71.71 and its 200-day moving average is $65.83. The company has a market cap of $34.443 billion and a P/E ratio of 130.71.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, June 17th. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.07. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company posted $0.36 earnings per share. Adobe Systems’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Adobe Systems will post $1.23 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on ADBE shares. Analysts at Zacks reiterated a “neutral” rating on shares of Adobe Systems in a research note on Friday, July 11th. They now have a $75.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating in a research note on Monday, June 30th. Finally, analysts at Argus raised their price target on shares of Adobe Systems from $81.00 to $85.00 in a research note on Thursday, June 19th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $74.24.

Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.

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